NH Takes First Step In Repealing Cap-And-Trade

Law360, New York (February 24, 2011, 8:21 PM EST) -- The New Hampshire House of Representatives has voted to repeal the state’s cap-and-trade energy tax system over the objections of the governor who signed the bill into law.

H.B. 519, which passed by a vote of 246-104 on Wednesday, will now go to the house’s Finance Committee for review.

Gov. John Lynch had asked lawmakers not to repeal the program, saying it would have unfortunate economic consequences for the region, including a cost of $6 million to taxpayers and forfeiture of additional revenue.